Brands are under pressure when it comes to price, promotions and shelf space, but they can boost their retail sales and margins if they combine Big Data and analytics. Data is the secret to understanding changing consumer behaviour and retailers' needs, but the challenge is transforming Big Data into smart data and then translating that into actionable insight.
Brand and retail marketers are inundated with information from an ever-increasing number of disparate sources from point of sale, customer loyalty schemes, inventory, consumer panels and e-commerce. However, if data is effectively gathered, integrated, analysed and used to create practical insight, brands...